Euro Rallies as German Inflation Accelerates to 5.3%

The Euro rebounded from its one and half week low on Friday morning as data from Germany showed wholesale prices rose 5.3% year-on-year in July, accelerating from a 4.9% increase in the previous month.

This marked the slowest growth in three months, but the acceleration in inflation has given the Euro a boost against the dollar.

The EUR/USD pair is currently quoting at $1.1555, up 0.10% on the day and edging higher from its one and half week low.